WASHINGTON, July 13, 2015 /PRNewswire/ -- Betterment, the largest automated investing service, announced today in connection with the White House Conference on Aging that it will update its advice engine to utilize newly available Social Security data. To assist Americans in their financial planning, the Social Security Administration will be providing individuals with an easily transferrable data file with the information contained in their monthly Social Security benefit statement.
Betterment will be integrating these data files into RetireGuide, an advice engine that informs customers whether or not they are invested correctly for a comfortable retirement. Unlike typical retirement calculators, RetireGuide builds a customized savings and investing plan that takes into account all of your investment accounts, including those with other providers, and your spouse's holdings. Using the information from the Social Security Administration, Betterment will be able to provide their customers with an even more accurate plan to better prepare for retirement.
"It is great to see the Social Security Administration make this data available to all workers," said Jon Stein, CEO and Founder of Betterment. "It is a notable step in providing consumers with their own data so that they can use it to improve their own outcomes. We've built Betterment on the principles of accessibility and transparency and we could not be more excited about working with the Administration on this new project that will enable workers to get better financial advice regardless of their level of wealth."
Betterment offers its customers a globally-diversified portfolio of index-tracking ETFs, personalized allocation advice, and goal-based investing. Customers can open and customize regular investment accounts, including traditional, Roth, or SEP IRAs; trust accounts; and accounts for retirement income.
Betterment currently manages more than $2.4B for more than 98,000 customers. For more information, please visit www.Betterment.com.
Betterment is the largest, fastest-growing automated investing service, helping people to better manage, protect, and grow their wealth through smarter technology. With more than 98,000 customers and over $2 billion in assets under management, the service offers a globally diversified portfolio of ETFs, designed to help provide you with the best possible expected returns for retirement planning, building wealth, and other savings goals. Betterment is a CNBC Disruptor 50, Benzinga's Robo Advisor Tools of the Year and Webby award winner and has been featured in the New York Times, Forbes, and the Wall Street Journal. Betterment helps people to achieve a smarter financial future with minimal effort and at a fraction of the cost of traditional financial services.
Disclosures: Determination of largest, most trusted, most popular, and most preferred online financial advisor and automated investment service reflects Betterment LLC's distinction of having the most accounts, based on Betterment's review of accounts numbers self-reported in the SEC's Form ADV, across Betterment's survey of automated RIA investing services as of January 31, 2015.